Private equity investors have their sights set squarely on big names in managed services software. In the last 15 months alone, Thoma Bravo has purchased Continuum and security/backup vendor Barracuda Networks Inc., among others, while Vista Equity Partners has snapped up Datto. So perhaps it comes as no surprise, that private equity firms are courting IT Glue in big numbers right now as well.
“If I had to put a number on it, maybe like three to five private equity slash venture capital firms per day reach out to me at this point,” he says. Day responds to all those queries with a polite but firm “no thank you,” and plans to continue doing so for at least a little while longer.
“I don’t believe that today is the right time to do that,” he says of accepting private equity money. “To the extent that I can keep doing this and I’m happy and excited and motivated, which I am, then I’ll keep doing that.”
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Speaking with ChannelPro earlier this week, the IT Glue CEO revealed that he’s open to more deals like his alliance with Kaseya, may soon offer licenses in smaller quantities, and thinks “disruptive-style pricing” could be the key to selling more MyGlue seats.
At IT Glue’s GlueCon event this week, CEO Chris Day (pictured) and other expert speakers said that best-in-class MSPs excel at these five specific functions.
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That’s according to CEO Fred Voccola (pictured), who spoke about those plans, Kaseya’s strategic ambition to sell MSPs everything they use, rising mid-market demand for managed services, and much more in a recent interview with ChannelPro.